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Don't dilute the franchise anymore, [by] overpaying for worthless companies

Derivatives Structurer/Specialist
Current Employee
Has worked at Bank of America for less than 1 year
December 22, 2008
South San Francisco, California
3.0
Approves of CEO
Pros
  1. Pay, historically, has been good, though it is sliding recently.

  2. It's big: In the current environment, it's good to be at one of the large, surviving players, and Bank of America is that.

  3. Broad and deep product and geographic diversification: good in terms of product to sell, and also good just for the sake of diversification.

Cons

Communication from management is poor; support and investment in technology is lagging (in my area).

There is a lot of uncertainty, involving the completion of some questionable acquisitions.

There is a rather parochial, Charlotte and inward-focussed culture, rather than acting like or aspiring to truly be a global bank.

Advice to Management

Communicate more often, more completely.

Don't cut corners on support, technology spending, or investment.

Don't condescend to employees.

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